Short position
Cocoa future May 2022
A downtrend is formed with the price breaking the uptrend above H1 and cutting it below. Moreover, the price continues to move below the EMA21 and EMA100 above the H1 which supports the price to continue falling.
=> Recommendation: Sell if the price rises to the 2667 area, take a loss 2722, take a profit at 2545.
A downtrend is formed with the price breaking the uptrend above H1 and cutting it below. Moreover, the price continues to move below the EMA21 and EMA100 above the H1 which supports the price to continue falling.
=> Recommendation: Sell if the price rises to the 2667 area, take a loss 2722, take a profit at 2545.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.